Assets of "Pasha Bank" made on May 1 this year, 703.49 million manat. The volume of loans increased 27.32 million or 9.7%, reaching to 308.21 million manat.
Deposit portfolio amounted to 430.67 million manat. During the reporting period, demand deposits increased by 24.22 million or 9.2% higher than the 287.5 million manat.
The total capital amounted to 158.88 million manat, and paid charter capital - AZN 157 million.
Revenues and expenses of the bank equaled 20.86 million, respectively, and 18.5 million manat. Net profit amounted to 2.36 million manat. - 15B -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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